Ballas Co. uses a periodic inventory system. Its records show the following for the month of May, in which 68 units were sold. May 1 15 24 Inventory Purchases Purchases Totals Units Unit Cost Cost of goods sold 30 25 35 90 Ending inventory at May 31 $8 tA 11 12 Total Cost FIFO $240 Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods. 275 420 $935 LIFO

Ballas Co, uses a periodic inventory system. Its records show the following for the month of May, in which 68 units were sold. Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods